Full coverage insurance is a vital consideration for drivers in the UK, especially for those with previous claims on their record. Understanding how full coverage works and its implications can help you make informed decisions and potentially save money.
What is Full Coverage Insurance?
Full coverage insurance typically refers to a policy that includes both third-party liability and comprehensive coverage, as well as collision coverage. This type of insurance protects you not only from damages you might cause to others but also from damages to your own vehicle under various circumstances.
Implications of Having Previous Claims
For drivers with previous claims, obtaining full coverage may present some challenges. Insurance companies often view a history of claims as indicative of higher risk, which can lead to increased premiums. If you’ve made multiple claims, you might find yourself facing significant hikes in your insurance rates or even difficulty in finding a provider willing to offer coverage.
How to Find Full Coverage as a Risky Driver
1. Shop Around: Different insurers have different policies regarding drivers with claims. It’s essential to shop around and compare quotes from multiple insurers. Online comparison tools can be incredibly useful.
2. Consider Black Box Insurance: Also known as telematics insurance, this type of policy involves fitting a GPS device to your vehicle. It monitors your driving habits, and if you demonstrate safe driving practices, you may qualify for discounts despite previous claims.
3. Maintain a Clean Driving Record: After a claim, focus on maintaining a clean driving record. Avoid accidents and violations, as a solid record can help lower your premiums over time.
Types of Coverage to Consider
When seeking full coverage insurance, you should consider various components that could aid in securing a fair policy:
- Liability Coverage: This is a legal requirement in the UK and covers damages you might cause to others.
- Comprehensive Coverage: This covers non-collision damages such as theft, vandalism, or natural disasters.
- Collision Coverage: This covers damages to your vehicle in case of an accident, regardless of who is at fault.
Strategies for Lowering Premium Costs
Even with previous claims, there are strategies to help lower your insurance costs:
- Increase Your Excess: By opting for a higher excess (the amount you pay out of pocket during a claim), you can often reduce your premium.
- Bundle Policies: If you have multiple insurance needs (like home and car insurance), bundling them with one provider can lead to discounts.
- Take a Defensive Driving Course: Completing a recognized driving course may improve your driving skills and qualify you for discounts.
Conclusion
Obtaining full coverage insurance as a driver with previous claims in the UK may be challenging, but it’s not impossible. By understanding your options, comparing policies, and employing strategies to minimize costs, you can secure the protection you need while potentially lowering your insurance expenditures. Always remember to read the fine print of any insurance policy and consider consulting an insurance expert if needed.
